- (PLX AI) - DoorDash shares are likely to keep rising, with a higher support floor now that profitability is no longer in question, Wells Fargo analysts said after the company reported earnings.
- • DoorDash revenue beat consensus yesterday while adjusted EBITDA was almost double expectations, but shares fell in after market as the company anticipates a seasonal decline in new consumer acquisition and order rates in Q3
- • We think the floor on the shares rose to about $155 as profitability is no longer really in question, Wells Fargo analysts said, reiterating an overweight rating on the stock and raising their price target to $235 from $215
- • If DoorDash can replicate the operational prowess it has demonstrated in the US as a fast follower in international markets, we think shares have significantly more upside in the coming years: Wells Fargo
© 2021 PLX AI
